DnB Asset Management AS Purchases 22,506 Shares of PACCAR Inc (NASDAQ:PCAR)

DnB Asset Management AS increased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 11.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 213,225 shares of the company's stock after buying an additional 22,506 shares during the period. DnB Asset Management AS's holdings in PACCAR were worth $22,180,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PCAR. Everence Capital Management Inc. bought a new position in shares of PACCAR in the fourth quarter worth about $1,984,000. Cullen Frost Bankers Inc. boosted its stake in PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock worth $8,916,000 after purchasing an additional 6,494 shares during the period. Sanctuary Advisors LLC grew its holdings in PACCAR by 24.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company's stock valued at $2,962,000 after buying an additional 5,871 shares in the last quarter. Insight Wealth Strategies LLC grew its holdings in PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company's stock valued at $4,061,000 after buying an additional 6,936 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of PACCAR by 19.3% during the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the company's stock valued at $138,000 after buying an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Trading Up 0.9 %

Shares of PCAR traded up $0.92 during midday trading on Tuesday, hitting $98.29. The stock had a trading volume of 2,170,419 shares, compared to its average volume of 2,651,725. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $124.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The stock's 50 day moving average is $104.93 and its 200 day moving average is $106.74. The firm has a market cap of $51.60 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

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PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This is a positive change from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is currently 16.69%.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of research reports. Melius Research set a $120.00 price target on shares of PACCAR in a report on Tuesday, March 18th. Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Evercore ISI dropped their price target on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. cut their price target on PACCAR from $132.00 to $121.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Finally, Melius raised PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $117.54.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 in the last quarter. 2.02% of the stock is owned by company insiders.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.